Funding Rare Disease Research With Crowdsourcing

A Tel Aviv University researcher has established an apparatus to help Israeli families with rare genetic defects undergo testing and, it is hoped, eventually obtain treatment.

The project will be funded by visitors to a website with personal stories of patients who choose to donate toward helping a specific family. Such testing is not in the basket of health services funded by health taxes and government subsidies.

The effort was announced on Wednesday on the eve of the International Rare Diseases Day, which will be marked around the world on Thursday.

The method of funding is called “crowd-sourcing,” referring to a collective effort by individuals who network and pool their money, especially via the Internet, to give financial support to projects initiated by other people or organizations.

As these “orphan diseases” affect only a small number of people, drug companies and governments spend little money to research rare genetic disorders. The US-based nonprofit Rare Genomics Institute (RGI) is working to address this problem by “crowd-funding” – allowing people to donate online to cover the genetic testing of children who are struggling with rare diseases.

Jews and Arabs – common victims of orphan diseases

Dr. Noam Shomron of Tel Aviv University’s Sackler Faculty of Medicine has adopted the RGI idea and set up an Israeli branch. The organization has just launched its first online appeal for two Israeli children.

As many as 250 million people around the world suffer from orphan diseases; however, since there are so many but so few people suffer from a specific one, there is little hope for diagnosis or treatment.

News

Barak Rabinowitz Joins Genesis Partners

August 2, 2015 | The Israeli venture capital firm Genesis Partners announced that it will add angel investor Barak Rabinowitz to its list of partners. Rabinowitz, who has experience in the gaming sector as the founder of two social gaming firms, will join the existing team of partners which includes Eddy Shalev, Eyal Kishon, Jonathan Saacks, Gary Gannot and Hadar Kiriati. Genesis Partners was established in 1996 and invests in early-stage technology and innovation-driven companies.

Rioglass’ Tech Employed At Ashelim Solar Power Station

August 2, 2015 | The solar power station at Ashelim signed a NIS 100 million ($26.4 million) agreement with Rioglass Solar Systems for the purchase of thermo-solar receivers. The massive solar power plant, which will provide 110 megawatts of power, is owned by Shikun and Binui Holdings together with the Spanish company Abengoa. Rioglass’s technology works by heat liquid with the sun to a temperature of 400 degrees Celsius, then converting the resulting steam into electricity to be distributed by the power grid.

Elbit Provides Water Tech To Mekorot

August 2, 2015 | The Israeli company Elbit Systems will install its I-PASS system with Israel’s national water company, Mekorot. The system was designed to provide alerts against a number of threats, including the sabotage of the pipeline, water theft, damage and more. The I-PASS system, which stands for Integrated Perimeter Access Security Systems, was designed as part of Mekorot’s WaTech unit. Elbit Systems was founded in 1996 by Elron Electronic Industries.

InfiApps Acquired For $39.2M

August 2, 2015 | The Israeli social mobile gaming company InfiApps has been acquired by the UK bingo operator Stride Gaming for $39.2 million. According to the terms of the deal, Stride Gaming will pay $21.2 million in cash and an additional $18 million according to financial milestones over the next two years. InfiApps was founded in 2012 by David Kalmanson and is based in Netanya, Israel.

Driveway Software Raises $10M In Series A Funding

August 2, 2015 | The telematics technology startup for driving Driveway Software announced that it raised $10 million in Series A funding. The current round was led by Ervington Investments, the investment arm for Russian entrepreneur and Chelsea Football Club owner Roman Abramovich. The San Francisco-based company has raised $11.3 million since it was founded in 2010 to develop its application that uses 3D sensors to provider drivers with objective information on their driving patterns. Driveway was founded by Technion grad Igor Katsman and Jake Diner.

Israelis Take Bronze At Int’l Chemistry Olympiad

July 30, 2015 | Three out of the four Israeli representatives at the International Chemistry Olympiad took home bronze medals. The competition, which was held in Baku, Azerbaijan, is the oldest scientific competition for high school-aged students, held for its 47th consecutive year. The participants competed against 300 other candidates from 75 different countries to win their prestigious honor.

Report: Percepto Raises $1M

July 30, 2015 | According to a “Geektime” report, the Israeli-created computer vision platform for drones Percepto raised $1 million. The funds were raised from movie producer and Dallas Mavericks owner Mark Cuban, together with Ron Lauder’s investment firm R&R Ventures, among others. Percepto was founded in 2014.

Behalf Raises $119M

July 30, 2015 | The small business loan lender Behalf announced that it received $119 million in commitments, which include equity and credit. The round was led by MissionOG and Gene Lockhart, the former CEO of MasterCard International, will join the company’s board of directors.The funds will be used to expand its platform, which works with small business suppliers to help grow businesses. Behalf was founded in 2011 by Benjy Feinberg, Shai Feinberg and Jeremy Esekow.

Kantar Media Invests In BIScience

July 30, 2015 | Kantar Media announced that it will invest in the digital media intelligence firm BIScience. Though the terms of the deal weren’t revealed, Kantar and its owner WPP will gain access to BIScience’s platform called ‘AdClarity’ as part of the investment. Based in New York, BIScience was founded in 2009 by Adi Mor Barak, Assaf Toval and Kfir Moyal.

Sansa Security Acquired By ARM For $85M

July 30, 2015 | ARM has confirmed reports that it will acquire Israeli Internet of Things security company Sansa Security for between $75-85 million. Sansa Security, which develops security solutions for cellular devices and flash memory, has raised $32 million since it was founded in 2000. Following the acquisition, ARM will establish its development center in Israel. Sansa Security was founded as Discretix in 2000 by Gal Salomon, David Deitcher and Limor Albaz.

Eximo Medical Raises $1.6M

July 30, 2015 | The Israeli company Eximo Medical announced that it completed Series A funding round of $1.6 million. The round was led by Accelmed together with the Alfred Mann Institute at the Technion, the Technion R&D Foundation and a private investor. Eximo, which is based in Rehovot, is the developer of a hybrid patented catheter system called ‘Cathi’. Eximo Medical was founded in 2012.

Tower Produces Touch Screen Controllers For Microsoft

July 30, 2015 | Tower Semiconductor announced that it will begin mass producing touch screen controllers for digital pens for the Israeli firm N-Trig. The latter company was recently acquired by Microsoft for use in its line of Surface mobile products. Tower Semiconductor is based out of Migdal HaEmek, Israel and was founded in 1993.

Israeli Cyber Exports Total $3B In 2014

July 30, 2015 | The Israel Export Institute reports that Israel sold $2.5 billion in cyber technology to the US in 2014, with cyber exports totaling $3 billion. As a result of the rise in exports, the Institute believes that the revenue of some 250 cyber companies in Israel will increase at a rate of 10 percent. In addition, the majority of these companies gear their services towards the American markets. In 2014, eight Israeli cyber companies were acquired for $700 million in total.

Confirmed: Teva Acquires Allergan For $40.5B

July 30, 2015 | Teva Pharmaceutical Industries has confirmed that it will acquire the generic pharmaceutical company Allergan for $40.5 billion. In what is already being called the largest-ever acquisition by an Israeli company, Allergan will receive $33.75 billion in cash as part of the deal. Following the announcement of the deal, Teva said that it would no longer consider the acquisition of Mylan, which is offered to acquire for more than $40 billion. With news of the acquisition, Teva’s stakes on NASDAQ went up 13 percent. The deal makes Teva the world’s largest producer of generic medications.

Viber Acquires Nextpeer For $9M

July 29, 2015 | Viber announced that it will acquire the Israeli mobile game developer Nextpeer for $9 million. Nextpeer is a service that allows users to add multiplayer features and social layers to any game. Viber hopes that the acquisition of Nextpeer will help increase engagement with its Viber Games service and allow users to discover new content on its platform. Nextpeer was founded in 2011 and is based in Tel Aviv.

SHL Telemedicine Acquired For $210M

July 29, 2015 | The Chinese investment group Shanghai Jiuchuan Investment has agreed to acquire SHL Telemedicine for $120 million. SHL, which is a Tel Aviv-based company, hopes that its acquisition by the Chinese investment firm will help it roll out its medical technology products in other countries besides where it currently operates, namely in China. SHL Telemedicine was founded in 1987 by Yoram Alroy.

Gett Announces Flower Delivery Feature

July 29, 2015 | The taxi-hailing company Gett announced that it will now deliver flowers in an attempt to compete with Uber. Gett will work with the Zer4u Network in Israel, allowing users to order flowers for NIS 149 through the Gett app. Soon, the app will have a button called GettFlowers that will allow users to order flowers through the application. Gett, which was previously known as GetTaxi, was founded in 2010 by Shahar Waiser and Roi More.

IAI Receives Grant To Create Drone Fuel System

July 29, 2015 | A research and development grant has been awarded to the Israeli company Israel Aerospace Industries (IAI) and the Florida company Cella Energy to create a fuel system for an unmanned aerial vehicle, colloquially known as a drone. The grant was awarded by Space Florida and MATIMOP as part of the Florida-Israel Innovation Partnership Program. IAI was founded in 1953 by Al Schwimmer and Shimon Peres.

Aiber Networks To Establish Data Center In Finland

July 29, 2015 | The Finnish-Israeli startup company Aiber Networks has signed an agreement with the Finnish city of Tampere to build a new high security data center in the city. Aiber has already raised about two million euros and plans to raise up to 100 million euros in order to see the center completed. The main investor in the scheme is Daniel Levin, Aiber’s chairman of the board and CEO. Building work on the center, located inside a cave, has already begun. Aiber Networks is cloud platform solutions provider.

Kibbutz Revivim Establishes First Kibbutz Accelerator

July 29, 2015 | Kibbutz Revivim in the Ramat HaNegev region is Israel’s first kibbutz to launch a startup accelerator. The accelerator will be called Hamadgera and the first batch of startups will begin their three-month acceleration program in October. In addition to the startup mentorship, the kibbutz accelerator will also offer complementary residential accommodations on the kibbutz for the participating startups. The accelerator will be opened to early-stage startups in Internet and mobile with the founders receiving a variety of services, including business and marketing consultation. Kibbutz Revivim was founded in 1943 and is a major plastics manufacturer for the automobile industry.

Playtech Earns £75M From Labrokes-Gala Merger

July 29, 2015 | Following the announcement that two online gambling companies, Labrokes and Gala Coral, will merge, Playtech, which provides solutions to the companies saw its market share surge to $4.7 billion. Making £75 million (approx. $117.6 million) as a result of the deal, Teddy Sagi’s Playtech will continue to serve both companies following the merger. Playtech, an online gambling software company, was founded in 1999 by Teddy Sagi.

Intel And Micron Reveal Breakthrough In Memory Tech

July 29, 2015 | Intel and Micron unveiled the 3D XPoint technology today, a huge breakthrough in memory processing technologies. Currently under production, the 3D XPoint is the first new memory category in 25 years, since the introduction of NAND flash in 1989. The technology is likely to be used soon in telephones, cameras, computers and more to process larger amounts of data at faster-than-ever speeds. Intel has R&D facilities located in Israel as well as its largest chip manufacturing plant.

Frutarom Acquires Scandia For $6M

July 29, 2015 | The Israeli specialty flavors and fine ingredients company Frutarom announced that it will acquire the Florida-based company Scandia for approx. $6 million. Scandia specializes in the field of citrus for leading global customers in the flavor, food and beverage markets. Frutarom is one of the ten largest flavors companies in the world, and was founded in 1933 by Yehuda Araten and Maurice Gerzon.

Merck Acquires Israeli Startup cCAM

July 28, 2015 | Pharmaceuticals giant Merck has agreed to acquire Israeli startup cCAM Biotherapies for $95 million in cash, and up to an additional $510 million, contingent upon certain milestones cCAM is set to reach. Founded in 2010 by Dr. Tehila Ben-Moshe and Dr. Gal Markel, cCAM Biotherapeutics develops immunotherapies to treat cancer.

Tel Aviv’s Startup Ecosystem Is No. 5 In The World

July 28, 2015 | The 2015 Startup Ecosystem Report, published by startup data benchmarking company Compass, has ranked Tel Aviv, Israel, as the fifth best startup ecosystem in the world, after Silicon Valley, New York City, Los Angeles and Boston. “Tel Aviv is a prominent startup ecosystem in the global landscape,” according to the report. Israel’s capital Jerusalem made it to the top 50 list.

Report: Trendlines Preparing For $100M IPO In Singapore

July 28, 2015 | Israeli startup incubator Trendlines is preparing for an initial public offering on the Singapore Stock Exchange, which would value the company at $80-$100 million, according to a TheMarker/Haaretz report. Founded in 1993 by Todd Dollinger and Steve Rhodes, The Trendlines Group invests in and develops innovation-based businesses in the life sciences, cleantech, IT and security industries.

Sapiens Acquires Inessco for $9.1M

July 28, 2015 | Sapiens International Corporation, an Israeli provider of software solutions for the insurance industry, has signed an agreement for the acquisition of Insseco, a Polish software provider that operates in the same industry, for $9.1 million. Founded in 1982 by Tsvi Misinai, Sapiens is headed by Roni Al-Dor and is traded both on NASDAQ and on the Tel Aviv Stock Exchange.

First Israeli Life Sciences Delegation Headed To Tokyo

July 27, 2015 | The first Israeli business delegation will arrive tomorrow in Tokyo as part of an agreement on research and development cooperation signed between Israel and Japan last year. According to the Israeli Ministry of Economy, the delegation will include representatives of Israeli life sciences firms, such as Can-Fite BioPharma, EyeYon Medical, and Kamada.

Report: Outbrain Raises $50M

July 27, 2015 | The Israeli content recommendation platform Outbrain has raised $50 million in a private financing round led by private equity firm Susquehanna, according to a Calcalist report. Outbrain was founded in 2006 by Yaron Galai and Ori Lahov.

Report: Yahoo Picks Israel For Its First Startup Accelerator

July 26, 2015 | Internet giant Yahoo will establish its first startup accelerator in Israel, according to a Globes report. Yahoo’s first incubator is slated to open in September 2015 in Ramat Gan, with two additional Israeli accelerators possibly following in its footsteps. Software giant Microsoft, along with venture capital firm Entree Capital, will partner with Yahoo on this project.

Pyramid Analytics Signs Deal With Microsoft

July 26, 2015 | Israeli company Pyramid Analytics, which develops business intelligence platforms for corporations, has signed a strategic agreement with software giant Microsoft. The deal is worth tens of million of dollars, according to a Calcalist report, which also speculates that Microsoft could eventually acquire Pyramid. Pyramid Analytics was founded in 2008 by Omri Kohl and Avi Peretz.

Israeli Startup Leadspace Raises $18M

July 26, 2015 | Israeli startup Leadspace has raised $18 million in a round of funding led by Battery Ventures. Founded in 2007 as Data Essence by Amnon Mishor and Yaron Karasik, Leadspace generates leads for its customers on social media. The company is based in San Francisco and Tel Aviv and backed by Israeli venture capital firms JVP and Vertex, in addition to Battery Ventures.

Report: Teva To Buy Allergan’s Generic Drug Unit For $45B

July 26, 2015 | Israeli pharmaceuticals giant Teva is in talks to acquire Allergan’s generic drug business for $45 billion, according to a Wall Street Journal report. The deal is expected to close tomorrow. Headquartered in Dublin, Ireland, Allergan is a global pharmaceutical company. Teva was originally founded in 1901 as Salomon, Levin, and Elstein.

London Mayor Boris Johnson To Visit Israel

July 23, 2015 | The mayor of the City of London Boris Johnson will visit Israel and the Palestinian Territories this fall, according to an announcement made by the British Ambassador David Quarrey at a UK Israel Tech Hub event on Wednesday. In his visit, Johnson will be accompanied by a tech-oriented delegation from the UK with the goal of promoting cooperation in the fields of tech and innovation. Johnson, who has already visited countries like Singapore with the goal of promoting “smart cities”, has stated in the past emphasized his focus on fintech and digital health companies as these are two of the strongest tech fields in the UK. The tech relations between Israel and the UK have seen a boost in recent years due to the creation of the Embassy’s UK Israel Tech Hub, a strategic center promoting relations between Israeli and English startup companies and entities.

Newly Appointed British Ambassador Announces Water Tech Grants

July 23, 2015 | David Quarrey, the new British Ambassador to Israel, announced that the British government to commit £200,000 ($312,000) to promote water research between UK, Israeli and Middle Eastern scholars. The British Council Trilateral Water Scheme is joined by two other newly initiated programs: the UK-Israel Science and Innovation Lectureship Grants in water science and agriscience, and the UK-Israel Researcher Links Fellowships in water science. Quarry launched the programs just nine days into his position after visiting Tel Aviv University and the Weizmann Institute.

Vizo News Raises $1M

July 22, 2015 | Vizo News, an Israeli-created platform that presents trending headlines based on interests, announced that it raised more than $1 million in early-stage funding from angel investors in Israel and the US. In addition, Vizo launched its app today in the App Store and Google Play store. Vizo was founded in 2014 by Dr. Haim Dahan and co-founder Gillian Baxter.

Israel Launches Second Round Of Grand Challenges Program

July 22, 2015 | The second round of the Grand Challenges program, an international initiative to encourage solutions for global food safety and health challenges, is being launched by the Israeli government. Launching in the US, Canada, India, Brazil, China and more, the challenge is geared towards solving serious issues in developing countries. Israel’s Office of the Chief Scientist and Ministry of Foreign Affairs will grant money to ten initiatives to solve these problems.

BondIT Selected For Accenture Accelerator

July 22, 2015 | The Israeli company providing bond portfolio management BondIT was chosen to participate in the accelerator for financial technologies Accenture. The unique program, which will take place in Hong Kong during the month of September, will last 12 weeks and will aid fintech startups in the Asia-Pacific region build their product and reach strategic customers. The Accenture program is sponsored by a number of notable international banks including: Bank of America, Credit Suisse, China Construction Bank, and Morgan Stanley, among others. BondIT was founded in 2012 and is headquartered in Herzliya, Israel.

Checkmarx To Hire 80 Employees

July 21, 2015 | After raising $84 million in funding from Insight Venture Partners, Checkmarx announced that it will hire an additional 80 employees, to be added to the company’s existing 160 employees in Israel and around the world. The company is looking for developers as well as Devops managers, among other positions. Checkmarx was founded in 2006 as a cybersecurity company by Maty Siman.

invi Raises $2M

July 21, 2015 | The interactive messaging platform invi announced that it raised $2 million in a round led by Seven Seas Ventures. F50, InnoValley, Streamline Ventures and Pre-Angel also participated in the round. The startup plans to use the funding to continue its growth as well as the development of new products. Based in Palo Alto, California, invi was founded in 2012 by Iddo Tal.

Vroom Raises $54M In Funding

July 21, 2015 | The used car marketplace Vroom announced that it raised $54 million from investors. One of the named investors includes former Denver Bronco’s quarterback John Elway. Vroom plans to use the funds to expand its platform that buys, fixes and resells used cars on the Internet. The latest investment in Vroom brings total funding in the company to $108 million since it was founded in 2013. Vroom’s service is currently only available in the US. The company is headed by CEO Allon Bloch.

Report: FIMI To Raise Sixth Fund

July 21, 2015 | According to a “Globes” report, FIMI Opportunity Funds will begin raising funds for its sixth fund “FIMI 6 Fund”. FIMI hopes to raise at least $1 billion for the sixth fund, bringing the total for the FIMI fund to $3.1 billion. FIMI was founded by its CEO Ishay Davidi. FIMI has invested in a number of companies, including medical technology startups in Israel.

Swayy Acquired By SimilarWeb

July 21, 2015 | The Israeli web traffic and mobile analytics company SimilarWeb announced that it will acquire content discovery platform Swayy. The deal is valued at less than $5 million and was conducted with the hope of expanding SimilarWeb’s team as well as its content recommendation capabilities. Swayy previously raised $550,000 from Elevator Fund, Star Farm Ventures and RSL. Swayy was founded in 2013 by Ohad Frankfurt, Oz Katz, Shlomi Babluki and Lior Degani.

WireX Raises $9.3M

July 21, 2015 | The Israeli cyber company WireX announced that it raised $9.3 million in a recent funding round. The round was led by Vertex Venture Capital together with Entree Capital, Magma VC and private investors. WireX plans to use the funds raised to expand its Israel R&D center and to establish the company’s headquarters in the United States. WireX was founded in 2010 by Tomer Saban, Gilboa Davara and Vadim Lipovetsky.

Israeli Universities Ranked In Top 100 On Saudi List

July 20, 2015 | The Saudi-Arabian think tank Center for World University Rankings ranked three Israeli universities within the top 100. Hebrew University took the lead for Israel in the rankings, ranked 23rd, the Weizmann Institute was ranked 39th and Tel Aviv University 86th. The Center for World University Rankings is based in Jeddah, Saudi Arabia.

Israel, Spain Sign Agreement To Construct Huge Solar Plant

July 20, 2015 | The Israeli Ministry of Finance signed an agreement to construct a 121-megawatt solar power plant in the Negev desert. Israel’s Shikun & Binui as well as Spanish company Abengoa are discussing building the plant in Ashalim in the Negev desert, a project that they hope will be complete by 2018. The deal, worth nearly $1.05 billion, is being financed by the European Investment Bank and the US Overseas Private Investment Corp.

Report: Teva Considers Acquiring OWC

July 20, 2015 | According to a report in “TheMarker”, Teva Pharmaceutical Industries is considering making a foray into the field of medical cannabis. The report stipulates that Teva has made an offer to the Israeli medical cannabis company One World Cannabis to begin acquiring its patents on medicinal cannabis strains. In Israel, there are currently 460 registered medical marijuana patents.

RedHill Raises $40M In ADS Offering

July 20, 2015 | The Israeli biopharmaceutical company RedHill BioPharma announced that it raised $40 million through its American Depository Shares at a price of $16.25 per share. The company will reportedly use the money raised in its ADS offering to being Phase III clinical trials on its product for the treatment of the bacteria responsible for causing ulcers. RedHill BioPharma is based in Ramat Gan, Israel.

Chiasma Raises $102M In NASDAQ IPO

July 20, 2015 | The Israeli drug development company Chiasma announced that it raised $102 million in a NASDAQ IPO. The company sold 6.3 million shares at $16 a piece with a market cap of $562 million. Chiasma had raised $70 million previously in a private placement. Chiasma also recently submitted its request to begin marketing its treatment for acromegaly. Chiasma was founded in 2001 and is headquartered in Jerusalem.

Magic Leap To Establish Offices In Israel

July 20, 2015 | The augmented reality company Magic Leap will establish an Israeli research and development office to continue developing its technology. Founded by the son of Israeli immigrants to the US, Magic Leap plans to hire a number of new Israeli developers to be based out of its Ramat Gan office. Magic Leap, which was founded by Rony Abovitz in 2010, recently raised $542 million in a round led by Google together with other notable investors like Qualcomm Ventures, Kleiner Perkins and Andreessen Horowitz.